Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The group Eloane, a manufacturer of electronic devices, has announced a restructuring that will lead to close three of its sites by 2020, entailing 260 job cuts. During a works council meeting, the management announced the closure of Vailhauquès (Hérault) in 2018 (35 jobs), Roncq (Nord) in 2019 (135 employees) and then Montceau-Les-Mines (Saône-et-Loire) (90 employees). According to the Group's management, in France, the restructuring is due to reorganisation of plants and human resources to maintain competitiveness.
At the Montceau plant, the employees stopped their work on 11 October to organise a meeting with their unionist of the CGT. Eolane recently turned to the support of investors 'to avoid the bankruptcy of the group', according to the management. The Eolane group subsequently sold 49% of its capital to the investment fund Hivest Capital Partners.
Eurofound (2017), Eolane, Closure in France, factsheet number 92256, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92256.